The government has just made it even more appealing to holiday at home!
Couples may be able to claim as much as 20% back on hotel and restaurant bills under the government's new staycation subsidy.
This was the good news contained in the July stimulus package for those planning a holiday at home in 2020.
The €5 billion package aims to boost economic recovery and get people “back to work”.
Ireland’s tourism and hospitality industries have been badly affected due to the COVID-19 pandemic. And with that in mind, the government is attempting to generate activity by offering a “Stay and Spend incentive”.
The money-back system will cost the government an estimated €250m.
But just how much will this vacation voucher be worth to Irish holidaymakers? And how can you claim your staycation tax back?
Let’s take a closer look!
How will the staycation tax refund work?
A first tax scheme of its kind in Ireland, the staycation subsidy will run from October 2020 to April 2021.
The staycation subsidy will enable those who holiday in Ireland to reclaim a portion of their hotel or restaurant bills.
The incentive is designed to give a boost to the domestic tourist industry and was announced as part of the government’s July stimulus package.
Who can claim tax back on their holiday bills?
Any taxpayer that spends over €625 on accommodation, food and non-alcoholic drinks while on holiday in Ireland will be able to claim.
However, the tax relief will not work retrospectively. In other words, those that take their holiday before October will likely be unable to claim.
How much can be claimed back after your holiday?
Taxpayers will be entitled to save 20% on their restaurant and hotel bills.
The maximum tax relief that can be claimed by an individual holidaymaker (who spends €625) is €125.
In other words, couples will potentially be able to claim €250.
How to claim the staycation tax relief?
The Taoiseach, Micheál Martin has said that the relief will be administered via an app. Further details on the relief are yet to be announced.
Who can help me claim my tax back?
Whether you’re holidaying at home or you simply want to claim tax relief on your medical expenses, by applying with Taxback.com you are guaranteed to receive your maximum legal tax refund.
The average Irish tax refund is €1,076 so it’s easy to see why claiming your tax back makes so much sense!
It’s very quick and easy to apply and you can find out how much you’re owed here.
Why apply with Taxback.com?
Our team will take care of all the paperwork for you so you don’t have to!
- Maximum tax refund guaranteed – average refund €1,076
- Simple online process - no complicated forms
- 24/7 Live Chat tax support
Our service is convenient too. Rather than sending you your money as a cheque, we’ll transfer your maximum legal refund straight to your bank account.
The average Irish tax refund is €1076.17